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Awaiting for Bakkt: Tron’s (TRX) Rapid Progress in Q1 2019

TRON Bakkt

Most of the crypto world is already well-aware of Bakkt, the Bitcoin futures contract exchange which has been announced nearly a year ago. Ever since its launch, Bakkt has been highly-anticipated, with the only thing in its way being the regulatory approval. While the exchange’s launch has been delayed multiple times, it is still one of the most important projects for the crypto world.

Bakkt is expected to bring cryptocurrencies into a new light, and make them available to institutional investors while eliminating multiple risks that are holding the institutions back. However, while Bakkt is expected to have its focus primarily on Bitcoin, the crypto community strongly supports the idea of multiple coins being listed on the exchange.

The Case for TRON

One of the coins with the biggest amount of support when it comes to getting listed on Bakkt is TRON (TRX), a cryptocurrency dedicated to decentralizing the web. Efforts to make the TRON community’s voices heard is almost as old as the announcement of Bakkt itself. IAmDecentralized.org’s co-founder, Misha Lederman, even started an initiative back in November that had seen the community sending a letter to Bakkt, arguing the case for TRON, and why the coin deserves to be there, alongside Bitcoin.

It has been six months since then, and neither TRON nor Bitcoin were listed thus far, due to the regulatory difficulties that Bakkt itself has faced, as mentioned. However, while TRX has yet to be listed, the coin has made a massive amount of progress on its own during that time.

Some of TRON’s achievements include the launch of BTT, niTROn, privacy options, multi-sign, and more. The project even came the closest to becoming a so-called ‘Ethereum Killer,’ by successfully attracting Ethereum’s own developers away from it.

These days, TRON is considered the fastest-growing dApp platform in Q1 2019, with around 40 dApps going live in a previous week alone. Not to mention that the project is nearing its 1,000th smart contract, which is certainly going to represent one of TRON’s major milestones.

Additionally, TRON has broken multiple records in terms of numbers of transactions, transaction volume per day and week. In other words, the project is developing quite rapidly.

The potential of TRX

Meanwhile, TRX itself had seen quite a lot of progress itself. It managed to reach the price of $0.030 back in early April. While the following correction eventually took it back down to $0.023, it had still shown that the project’s price has the ability to grow, which served as a sample of its potential in the bullish market.

These days, TRX sits at the 11th spot on the list of largest cryptocurrencies by market cap, with a market cap of over $1.5 billion, and a daily trading volume of more than $652 million. At the time of writing, the coin’s price is at $0.023112, after dropping by 1.29% against the USD in the past 24 hours. However, TRX price has also grown against BTC by 0.17% during the same period.

In the end, TRON’s community remains convinced that the project deserves to be alongside Bitcoin — on Bakkt, and elsewhere. As mentioned, Bakkt has yet to fully arrive, which has all the makings of a long and difficult process. However, once it arrives, TRON will definitely be one of the projects worthy of consideration.

About Ali Raza

A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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